Her husband is an employee in the factory. His income is not enough for the whole family. That’s why Rukhsana adopted the profession of sewing clothes. She has applied for a loan from Kiva partner Asasah to improve her business of sewing. With the loan, she will buy a new sewing machine that will allow her to finish her orders on time and earn better profits. She is very experienced in her work and has been operating her business for the past five years. She is confident that an investment will bring even better profits to her and help her family to live a better financial life. She is a new loan applicant and this is her first loan application to Asasah.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid